UK invests over $21B in Azerbaijan, deputy minister says

Baku: The volume of UK investments in Azerbaijan’s economy has exceeded $21 billion, Deputy Minister of Economy and Industry of Azerbaijan Sahil Babayev said.

He made the remarks during Azerbaijani-British Business Forum taking place in Baku Oct.29.

“The UK ranks first among the foreign investors on the volume of investments in Azerbaijan’s economy,” he said, adding that most of these investments were made in the oil and gas sector.

The deputy minister said that the next meeting of the Azerbaijani-British Intergovernmental Commission will take place in the near future.

According to him, Azerbaijan has close cooperation with UK companies in the oil and gas sector.

The deputy minister went on to add that Azerbaijan and the US have also close cooperation in the education sphere.